Sunset Strip | Aussie market started with a low negative after a volatile day in US markets and finished with solid negative with Asian markets wobbling on...

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market started with a low negative after a volatile day in US markets and finished with solid negative with Asian markets wobbling on global growth and commodity price risk in Copper and Oil. We warned clients with short term perspective to take profit today as (1) Market about to break below recent lows on technical (2) US market sitting on 50 day MA level with negative sentiment (3) US reporting season starting and high USD, low global growth and shale industry issues weighing on it (4) Copper now under attack for breaking technical support levels like gold, iron ore and oil before it (5) Euro stocks have run up 3% in 2 days with the rest of the world not following despite ECB QE expected (6) Domestic macro mixed at best with local volatility up 5% and bond yield below 2.6% today (7) AUDUSD dropped 1 cent and now sitting on 81 cents. ECB will have to prove to the market that they can deliver large scale QE to turn the tide. (VIEW LINK)


Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

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